ISLAMABAD – Minister for Finance Asad Umar has revealed about negotiationswith IMF.
He said that Pakistan’s negotiations with International Monetary Fund (IMF)are not broken and are still underway.
Talking to APNS Executive Committee on Monday, the minister said that theprevious government should have gone to the IMF early this year as thebalance of payment crises was pretty evident and that would have been thebest time to seek an IMF package.
Referring to stability in Pakistan’s economy, the finance minister saidthat the PTI’s government did not waste any time in engaging the IMF andthere is almost consensus among the Economic Advisory Council that seekingIMF package is the most viable option to stabilise its economy and currencyin the short term.
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The incumbent government inherited a huge current account deficit of $19bthat is an uphill task to reduce this deficit from growing and initiatingdifferent measures to tackle it through prudent fiscal and monetarypolicies, said Umar.
